OpenX lays off around 100 employees as part of strategy shift
- Wednesday, December 19th, 2018
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Ad tech company OpenX has reportedly let go of around 100 employees as part of a strategic move aimed at better positioning the ad exchange for growth.
The layoffs have hit the firm’s engineering, human resources, marketing, and account management departments. On the back of the cuts, OpenX plans to invest more than $100m in new marketing and publishing products next year, as well as expanding into other regions and bringing in senior hires in January. The firm will begin pushing its focus toward mobile app, video, and connected TV advertising.
“Coming off our fifth straight year of profitability in 2018, we are proactively addressing how we can maintain our leadership position for years to come,” a spokesman told the Wall Street Journal. “We recognised early that this requires diversification of our core business and increased investment in growth areas.”
The supply side platform began reviewing its business last year and began putting actioning changes in October of this year – when it consolidated its engineering hubs in Pasadena, California and Krakow, Poland, while closing its Santa Clara, California office.